Today in the press

Monday 30 June 2014 09.22
Today in the press
Today in the press

1,200 STAFF IN BAILED OUT BANKS PAID OVER €100K - More than 1,200 bankers at the bailed out AIB and Permanent TSB are being paid in excess of €100,000, according to The Irish Independent.

At AIB, 18 senior bankers are still being paid €300,000 or more while seven, including CEO David Duffy, are being paid more than €400,000.

In 2013, Mr Duffy was paid a salary of €425,000 and a pension payment of €64,000 for a total remuneration of €489,000.

AIB has received more than €20.8bn in taxpayer support since the crash in 2008, while PTSB has received €4bn from the State's coffers.

The figures, obtained by the Irish Independent, show that AIB currently has 1,033 employees who are earning in excess of €100,000 a year.

It can be revealed that 942 bankers at AIB are earning between €100,000 and €200,000 a year, while a further 73 are paid between €200,000 and €300,000.

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HIBERNIA REIT ACQUIRE OBSERVATORY BUILDING - The Irish Times reports that property investment vehicle Hibernia REIT has paid €52.25m to acquire the Observatory Building at Sir John Rogerson’s Quay in Dublin’s south docks.

The building was sold by the National Asset Management Agency as part of their “Redwood Portfolio” that was put on the market in April.

The deal comes a month after the group paid €20.16m for the loan secured on the nearby Hanover Building at Windmill Lane and acquired an adjoining site for €7.4m.

Following the completion of the Observatory transaction, Hibernia will have concluded eight acquisitions since listing last year.

The Observatory, which was developed by Derek Quinlan and Bernard McNamara in 2007, is a six-storey, modern development that includes up to 86,213 sq ft of office space along with 47 basement parking spaces.

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REVENUE TAX DEBT SEIZURES FALL – The Irish Examiner reports that the rate of monies obtained by the Revenue Commissioners through attachment orders from defaulting taxpayers has slowed down this year compared with 2013 and 2012.

New figures provided by Finance Minister Michael Noonan show that a total of €11 million has been generated arising from 1,972 separate referrals for attachment orders from defaulters in the first five months of this year.

This compares with €28.62m received arising from 4,199 separate referrals in 2013 and €28.5m obtained from 4,039 referrals in 2012. The value of attachment orders to the end of May in 2014 totals €65.2m and this compares to a value of €173.5m in 2013 and €178.4m in 2012.

In a written Dáil response to Fianna Fáil’s Dara Calleary, Mr Noonan said: “I am advised by Revenue that the debt collection environment continues to be challenging given the ongoing difficult financial environment.”

Revenue can remove funds from defaulting taxpayers’ bank accounts through an attachment order and, in the list provided, the minister confirmed that the highest amount of attachment order monies, at €2.25m, was received in the Dublin City area through 360 referrals for the first five months of this year.